August 1, 2018NIBTT, NEL and UTC
NIBTT, NEL and UTC
Acquisition of 10% interest
in Phoenix Park
An investment consortium comprising The National Insurance Board of Trinidad and Tobago (“NIBTT”), National Enterprises Limited (“NEL”), and The Trinidad and Tobago Unit Trust Corporation (“UTC”) acquired 100% of the equity of Pan West Engineers & Constructors, LLC (“Pan West”) for a total consideration of US$168 million. Pan West is a wholly-owned subsidiary of General Electric Capital Corporation (“GE”) and the holder of a 10% equity interest in Phoenix Park Gas Processors Limited (“Phoenix Park”).
Pan American Finance acted as financial advisor to the investment consortium for the transaction.